17,795 Shares in Allegion PLC $ALLE Purchased by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management opened a new position in Allegion PLC during the fourth quarter, buying 17,795 shares valued at about $2.83 million.
• Allegion reported Q1 earnings of $1.80 per share, below analyst estimates of $1.88, though revenue came in at $1.03 billion and rose 9.7% year over year.
• The company announced a $500 million share buyback and a quarterly dividend of $0.55 per share, while analysts currently rate the stock a consensus Hold.

Kingsview Wealth Management LLC acquired a new position in Allegion PLC (NYSE:ALLE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,795 shares of the scientific and technical instruments company's stock, valued at approximately $2,833,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Allegion by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,693,831 shares of the scientific and technical instruments company's stock worth $427,521,000 after purchasing an additional 13,880 shares during the period. Jackson Creek Investment Advisors LLC purchased a new stake in Allegion in the 4th quarter worth about $1,332,000. Allstate Corp raised its position in Allegion by 93.2% in the 4th quarter. Allstate Corp now owns 5,975 shares of the scientific and technical instruments company's stock worth $951,000 after purchasing an additional 2,883 shares during the period. Hantz Financial Services Inc. increased its position in shares of Allegion by 45.9% during the fourth quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 68 shares during the period. Finally, Prospera Financial Services Inc purchased a new position in shares of Allegion during the fourth quarter worth approximately $211,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $130.33 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.19 and a current ratio of 1.91. The firm's 50 day simple moving average is $138.89 and its 200-day simple moving average is $154.12. Allegion PLC has a one year low of $125.00 and a one year high of $183.11. The firm has a market cap of $11.20 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The scientific and technical instruments company reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.08). Allegion had a net margin of 15.24% and a return on equity of 35.41%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. Allegion's revenue for the quarter was up 9.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, equities analysts predict that Allegion PLC will post 8.74 EPS for the current year.

Allegion declared that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, June 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.7%. Allegion's dividend payout ratio (DPR) is currently 30.05%.

Insider Buying and Selling

In other news, SVP Robert C. Martens sold 3,993 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $137.15, for a total transaction of $547,639.95. Following the transaction, the senior vice president directly owned 8,570 shares in the company, valued at approximately $1,175,375.50. This trade represents a 31.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sue Main acquired 2,000 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $149.61 per share, for a total transaction of $299,220.00. Following the completion of the purchase, the director owned 2,000 shares of the company's stock, valued at approximately $299,220. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $150.00 target price (down from $170.00) on shares of Allegion in a research report on Friday, May 15th. Barclays reduced their target price on shares of Allegion from $165.00 to $161.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 29th. Bank of America reduced their target price on shares of Allegion from $185.00 to $157.00 and set a "neutral" rating on the stock in a research report on Monday, April 20th. Evercore raised shares of Allegion to a "strong-buy" rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company reduced their target price on shares of Allegion from $175.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $161.50.

About Allegion

Allegion plc NYSE: ALLE is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion's core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company's product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.

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